Duplo Partners with Wema Bank to Embed Financial Management Tools

Nigerian startup Duplo has announced a partnership with Wema Bank to integrate its financial operations platform into the bank’s ALAT Business banking service. This move allows businesses to access comprehensive financial management tools directly within their existing banking environment, streamlining workflows and improving efficiency.

Enhanced Banking Experience for Businesses

The integration provides ALAT Business customers with a range of features including:

• Automated local and international payments
• Expense management and approval workflows
• Invoice generation and collection
• Vendor payment automation
• Real-time cash flow monitoring
• Transaction reconciliation from a single dashboard

Existing ALAT Business users will receive three months of complimentary access to Duplo’s platform, with the option to continue using it after the trial period.

Strategic Partnership in a Growing Trend

This collaboration reflects an emerging pattern across Africa’s financial services industry where banks are partnering with fintech startups to expand their offerings. Similar partnerships have been seen recently between Paymentology and Boya with Diamond Trust Bank, and Mastercard with SAVA, demonstrating the value of combining traditional banking infrastructure with specialized fintech solutions.

According to Duplo CEO Yele Oyekola, this approach allows banks to provide customers with more comprehensive services without needing to build everything in-house. “Banks are increasingly being asked by their customers for tools that go beyond traditional banking,” he explained. “By integrating with platforms like ours, they can meet these evolving needs while focusing on their core operations.”

About Duplo and Wema Bank

Duplo is a Nigerian fintech startup founded in 2021 by Yele Oyekola and Tunde Akinnuwa that develops financial operations software for businesses. The company has raised $13 million from investors including Point Nine Ventures and Commerce Ventures, and currently serves over 1,000 businesses processing more than $1 billion in annual payment volume.

Wema Bank is one of Nigeria’s oldest lenders known for its innovation in digital banking services through platforms like ALAT Business.